32-10-01. Receiver - When appointed.
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/nd/title-32/chapter-32-10-receivers/32-10-01·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A receiver may be appointed by the court in which an action is pending, or by a judge thereof:
1. In an action by a vendor to vacate a fraudulent purchase of property, or by a creditor to
subject any property or fund to the creditor's claim, or between partners or others
jointly owning or interested in any property or fund, on the application of the plaintiff, or
of any party whose right to or interest in the property or fund or the proceeds thereof is
probable, and when it is shown that the property or fund is in danger of being lost,
removed, or materially injured.
2. In an action by a mortgagee for the foreclosure of the mortgage and sale of the
mortgaged property, when it appears that the mortgaged property is in danger of being
lost, removed, or materially injured, or that the conditions of the mortgage have not
been performed and that the property is probably insufficient to discharge the
mortgage debt.
3. After judgment, to carry the judgment into effect.
4. After judgment, to dispose of the property according to the judgment or to preserve it
during the pendency of an appeal, or in proceedings in aid of execution, when an
execution has been returned unsatisfied, or when the judgment debtor refuses to apply
the debtor's property in satisfaction of the judgment.
5. In the cases provided in this code, when a corporation or limited liability company has
been dissolved, or is insolvent or in imminent danger of insolvency, or has forfeited its
corporate rights, and in like cases within this state, of foreign corporations and of
foreign limited liability companies.
6. In all other cases in which receivers heretofore have been appointed by the usages of
courts of equity.